That's my strategy, trade alt coins for btc, and as long as I'm making gains ahead of it, I don't have to pay retail for btc. Everyone here owes it to themselves to throw down 50$-100$ just as a price of admission & shits and giggles.
There are some with price targets at $4000, $5000, $10,000 and get this, one guy predicts $500,000 by 2030 and another guy came out and said $1,000,000 in the next 10 years.... I see a major collapse coming of at least 50%+, there are over 700 cryptocurrencies now on the market, I still cannot comprehend how something made up from thin air, something that has no understanding, no reason or rhyme can have such a ludacris value, its trading higher than gold...and it seems any tech savvy person can create their own cryptocurrency with some skill and expertise.... This entire global market is going insane...from a derivatives market worth tens of trillions, stocks only going one way and reaching constant record breaking highs, housing prices once again running up.. rents out of control...costs of goods and services flying high...college tuition and medical costs jumping year over year, along with unicorn companies worth billions of dollars in less than a few years and now a cryptocurrency that no one has a clue about what it is and how it works worth tens of billions of dollars!!!! I don't know how long any of this can be sustained but when it all comes collapsing down its going to be one historical event!!!
I hope some of you know that last night bitcoin did drop over $200 and did recover afterwards...I'm sure that $200 drop caught many off guard...
Pardon me, but i'm going to have to call bull$shit on "your story with your buddy..." That's not how bitcoin works. If you knew how it works...
LOL, to each his own i guess, just felt like id be a dick if i didnt say something, good luck, and nice gain so far, to the moon alice
You need to stop imagine people in pain when things drop like that because many of us bought much much lower. I can see why AMZN is crazy, but bitcoin market cap is still much much smaller than AMZN. There is a long road ahead. Look at all the hacking with SWIFT, or all the capital controls in China and how everyone wants to store their wealth somewhere safe. Then look at the market cap of bitcoin and realize that there is a limited number of coins...mathematically, if more money is seeking a safe heaven, it has to explode.
This ^^^ times a thousand. I've held (no, not my buddy or anyone else) from ~100 to 1200 to less than 200 to now. $200 drop from $2000+? lol. I have a friend from work told me to sell the first time it hit 1000. When it dropped, he kept telling me to sell. Last month, he told me to sell, sell, sell. price was $1200. Yes, it's possible that people are holding and not trading bitcoins...